Dean Thompson
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 increasing prices

 Comox Valley Real Estate News for November 2017 

 Some notable statistics are as follows:

  • The average single family home sale price for October 2017 was $510,645; an increase of 17% from the same month last year!

  • Single family homes sold for an average of 97% of their list price in October.

  • New listings for detached homes were up 33% in October compared to the same month last year.

  • The average number of days for a single family home to sell in October was 61 days; an increase of 41% from October 2016 (43 days). 

For detailed information visit  Comox Valley Real Estate Statistics or  contact me directly. 

          Mortgage Rule Changes effective January 1, 2018 

          * The Office of the Superintendent of Financial Institutions Canada (OSFI) is setting a new minimum qualifying rate, or “stress test,” for uninsured mortgages.

          *OSFI is requiring lenders to enhance their loan-to-value (LTV) measurement and limits so they will be dynamic and responsive to risk.

          *OSFI is placing restrictions on certain lending arrangements that are designed, or appear designed to circumvent LTV limits.


           Under the current mortgage rules, a family with a gross annual household income of $70,000, with no other debts would be able to qualify for a mortgage of roughly $400,000. They would need to have a down payment of $100,000, but with that they would be able to purchase a house for a price of $500,000. 


          Under the new rules in 2018, the same family with the same gross annual household income of $70,000, the same $100,000 for their down payment and no other debt will only qualify for a mortgage amount of $320,000 and therefore a maximum purchase price of $420,000.


          So in this scenario the family’s purchasing power will be reduced by $80,000 due to the new mortgage rules.


          For more information, Click Here.




          MOUNT WASHINGTON is scheduled to open for the WINTER season at 9am on Friday, December 8th, 2017! Get your passes for the 2017/2018 ski & snowboard season at



          Comox Valley Farmers' Market  on Saturdays from 10am-1pm!


          The Fall Farmers' Market has now moved indoors for the winter season to the Native Sons Hall in Courtenay.  

          For more information: